Replication files for ``Does Austerity Pay Off?'' by Benjamin Born, Gernot J. Mueller, and Johannes Pfeifer

The results were generated with Matlab 2017b, including the Econometrics Toolbox.
 
Each folder contains codes to replicate the respective Table or Figure. Please follow the instructions in the respective Matlab .m file to reproduce the specific entries in the tables.

Note that Table 4, column "7= ICRG political risk index included," requires the purchase of the
proprietary ICRG political risk data.


